This paper addresses the effectiveness of the traditional models of cooperation, and analyses best practices in other commercial sectors in order to identify transferable elements. The Report of the Policy Commission on the Future of Farming and Food (2002) identified a need for farmers to...

Purpose: Many family businesses do not survive into the second generation. A common reason put forward for this is poor succession planning for the second generation. This paper is designed with the aim to explore the role of the father in supporting the son’s business knowledge and...

This paper develops improvements to existing finite-difference methods for pricing derivatives (on single and also multiple underlying factors) which contain early-exercise features. Both fixed-grid methods (based on Projected Successive Over Relaxation) and moving-grid methods (based on...

Since the seminal work of Merton(1974), structural models have frequently been implemented to price defaultable bonds. Empirical evidence shows significant skewness of results using Merton's model. The question is whether modifications can sufficiently improve the performance of structural...

Fixed rate endowment mortgages differ from fixed rate repayment mortgages primarily because, in the event of early termination, the amount owed by the borrower is a function of the evolution of the term structure of interest rates, whereas for a repayment mortgage it is pre-determined.We use a...

This paper considers in detail a realistic mortgage valuation model (including the potential for early prepayment and the risk of default), based on stochastic house-price and interest-rate models. As well as the development of a highly accurate numerical scheme to tackle the resulting partial...

Fixed rate endowment mortgages differ from fixed rate repayment mortgages primarily because, in the event of early termination, the amount owed by the borrower is a function of the evolution of the term structure of interest rates, whereas for a repayment mortgage it is pre-determined. We use a...